The difference is in how ICE is negotiated.
An ICE-lite peer is a purely passive entity and only responds to
requests sent to it, whereas an ICE-full peer actively sends
connectivity checks itself. Effectively this means that an ICE-lite peer
is required to have an IP address reachable by the ICE-full peer, or
otherwise connectivity will fail.
Another difference (and possibly an important one) is that in a role as
a proxy, rtpengine as an ICE-lite peer can only achieve negotiated ICE
status towards the offerer once the answer has been sent by the
answerer. This is because without an answer, the offerer has nowhere to
send ICE requests to. Meanwhile in the same situation but with rtpengine
using ICE-full, it can send requests to the offerer immediately after
receiving the offer, leading to working connectivity towards the offerer
much faster (even more so if then DTLS also needs to be established).
Caveat: Some peers refuse to establish ICE/DTLS before an answer has
been received, and in those cases it wouldn't make a difference.
Cheers